According to the Centers for Medicare and Medicaid Services, currently about 53% of all Medicare beneficiaries are enrolled in Medicare Advantage in the state of Florida.
Medicare Advantage is offered by private insurance companies and bundle the benefits in a way that many people find appealing. However, the plans limit the care to network providers, and in some cases require referrals to see specialists.
Why do many people prefer Medicare Advantage for their health care in their golden years? Here are a few points to consider:
Medicare Advantage often has no monthly premium.
Most Medicare Advantage plans in Florida have no monthly premium – versus a medigap, which has an average monthly premium of about $200/mo. If you have minimum health issues, the choice seems like a no-brainer.
Plans are bundled.
With Original Medicare, people must juggle individual pieces of coverage – Part A, Part D, medigap – but Medicare Advantage offers an all-in-one solution for Medicare Coverage; simple.
Medicare Advantage offers extra benefits.
Many Medicare Advantage plans across the state offers benefits above and beyond that of which Original Medicare offers; even with a medigap plan. About 1 in 4 people say extra benefits sealed the deal for them to choose Medicare Advantage, according to a survey done by Commonwealth Fund, a health care think tank.
The extra benefits offered by the plans can be generous, ranging from comprehensive dental, and vision benefits, to trips to doctors, and even money to help pay electric bills in certain counties.
Medicare Advantage has other compelling reasons.
- Familiar structure
o Most Medicare Advantage plans are HMOs or PPOs, so consumers are already accustomed to how the plan operates.
- Circle of influence opinions
o Friends, family, neighbors, and even celebrities are endorsing the plans.
The plans work.
Finally, the most obvious reason why seniors flock toward Medicare Advantage is: the plans deliver on their promises. Claims are paid, most plans do not have a monthly premium in addition to the Medicare Part B premium, and they include extra benefits at no additional cost. So many seniors choose Medicare Advantage, simply because the plans work.
In most cases however, neither Medicare Advantage nor Original Medicare is inherently “better” or “worse” than the other. What matters most is choosing an option the best protects you according to your needs and budget, while giving you the peace of mind that you desire.